About Erik Townsend

Erik Townsend is a retired software entrepreneur turned hedge fund manager. Throughout his career, Erik has capitalized on his ability to understand complex systems and anticipate paradigm shifts far in advance of the mainstream. Read More...

Anatomy of the U.S. Dollar End Game Part 3 of 5

Erik Townsend welcomes Jeffrey Snider, Mark Yusko and Luke Gromen to MacroVoices. In part 3 of the 5 part series, Mark Yusko and Luke Gromen present:

U.S. Dollar Cyclical Pattern

Looking at the Dollar Technicals

Is there room for one more rally?

Gold and the Oil for Yuan Plan

Impacts to Emerging Markets

Demographics, Deflation and Lower Rates

Welcome to Multi-Polar FX World

China and Russia’s end-game strategy

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Jeffrey Snider is Chief Investment Strategist and Head of Global Research at Alhambra Investment Partners. Through detailed and comprehensive investigation of the global monetary and banking system, he was one of the few analysts to sound the alarm during the run-up to the panic of 2008 and then to predict the rebound in 2009. His current commentary focuses on the global implications of the ongoing monetary deconstruction including the failure of Federal Reserve and central bank policy. Mr. Snider is published nationally at RealClearMarkets, NewsMax, David Stockman's Contra Corner, and other places.

Mark W. Yusko is the CEO and Chief Investment Officer of Morgan Creek Capital Management, LLC, a registered investment adviser formed in July 2004 to provide investment management services based on the University Endowment Model of investing to wealthy families, individuals and institutional investors. Morgan Creek currently has $ 3.2 billion in assets under advisement in non-discretionary accounts and discretionary funds.

Prior to forming Morgan Creek, Mark served as the Chief Investment Officer for the University of North Carolina at Chapel Hill (UNC) from 1998 to 2004. Mark, and his team, founded the UNC Management Company (UNCMC) in July of 2002 to provide comprehensive investment advisory services to the University including strategic and tactical asset allocation, investment manager selection, manager performance evaluation, spending policy management and performance reporting. The Management Company was also responsible for providing Cash Management and Planned Giving Management services as well as aiding in the commercialization of University technology and real estate development projects. UNCMC also provided outsourced investment management services to select schools within the UNC System. Total assets under management were $1.5 billion, $1.2 billion of Endowment and $300 million of University working capital.

Luke Gromen began his career in the mid-1990s in the Research Department at Midwest Research before moving over to institutional equity sales and becoming a partner. While in sales, Luke was a founding editor of Midwest’s widely-read weekly summary (“Heard in the Midwest”) for the firm’s clients, in which he aggregated and combined proprietary research from Midwest with inputs from other sources.

In 2006, Luke left FTN Midwest to become a founding partner of Cleveland Research Company. At CRC, Luke continued to work in sales and edit CRC’s flagship weekly research summary piece (“Straight from the Source”) for the firm’s customers.

In 2014, Luke left Cleveland Research to found FFTT, LLC (“Forest for the Trees”), a macro/thematic research firm catering to institutions and high net worth individuals that aggregates a wide variety of macroeconomic, thematic and sector trends in an unconventional manner to identify investable developing economic bottlenecks for our customers, as we have found that excess investment returns tend to accrue to economic bottlenecks over time.

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Patrick Ceresna shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.